O'Fallon IL Real Estate Update for 3rd Quarter + 2013
Before we get started a look at the National Scene
And on to the Local "stuff"
And on to the Local "stuff"
O'Fallon has had a promising increase in Home Sale activity compared to the same time period from last year (Jan-Late October)
In 2012, 285 homes closed between Jan 1 - October 28th.
In 2013 that number jumped to 376 homes for the same time period...over a 24% increase.
At this point 2013 is looking to be the strongest year since 2007.
Average Days on Market ( the time from when a home is listed to when it actually closes) is down as well from its six year high last year of 174 days down to 160 days for 2013.
Home Prices have also climbed from an average of $191,000 in 2012 up to $196,000 for 2013.
So all in all things look...pretty good. The 4th Quarter can be a bit of a roller coaster but for the moment things seem to have stabilized.
Have a Safe and Happy Halloween!
